Mumbai, Dec. 12 -- COMEX gold pilled back slightly on Friday morning in Asia after surging over 2% in the previous session. Weakness in greenback amid Fed rate cut has supported recent gains in the yellow metal that is currently quoting around $4300 mark. Further, data from US Department of Labor showed the number of Americans filing new applications for unemployment benefits increased by the most in nearly four and a half years last week. This weaker-than-expected jobs data weighs on the Greenback and provides some support to the USD-denominated commodity price. On the MCX, gold futures are trading above Rs 130000 per 10 grams.
Published by HT Digital Content Services with permission from Capital Market....